This round of retail investors were hurt by the project owners, so they started to speculate on ownerless memes. They started to get excited, and 10x and 100x coins were everywhere. Gradually, the funds were dispersed and tired. Only a few of the 100 memes survived, and the others returned to zero.

At this time, the centralized project relied on the market maker to pull out a few high-multiple coins, and retail investors said "I'm awesome, it has to be a strong market maker, rushing for VC coins". When the project owners cut too much, retail investors will start to speculate on ownerless memes again, and the cycle repeats. This is the currency circle.

Don't talk about decentralization in the future. The currency circle only recognizes the rise.